Greece has
recently agreed to sell no less than a 33% stake to a Czech equity fund led by
two investors who paid €650 for the stake in the gambling
monopoly OPAP, the gaming and betting firm which is responsible for the
management of sports betting games and lottery in the debt-ridden European
country. The transaction needs to be approved by Greece’s competition
commission.
The sale has
previously been agreed in May, when the Czech company agreed on a financial
consideration of €712m, an amount which is more than 18
times bigger than analysts’ estimations regarding the gross gaming revenues of
the 2013 financial year.
Greece is
still under the pressure of meeting the requirements for completing the bailout
plan, the European country being currently forced to raise almost €10 billion from assets by the beginning of 2016. At this
point in time, Greece has already agreed on a deal with a consortium led by
OPAP in order to privatize the state lottery. Furthermore, the European Court
of Justice has declared earlier this year that the Greek government has not
fully fulfilled the requirements stated by the court, but the Greek government
eventually proposed to grant OPAP with exclusive rights to internet gaming and
betting services until 2020. Online gaming software providers can benefit if
the decision will be favorable and make available online casino software forsale.
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